Freedom 251 to make Rs 31 profit on every unit sold

Zee Media Bureau

New Delhi: India's cheapest smartphone Freedom 251 has taken the entire gadget world by storm with buyers being over-excited and the industry on the phone's business model.

While the mobile industry is in disbelief how Ringing Bells can afford to sell a 3G smartphone at only Rs 251, the maker of this phone Mohit Goel said that he will not only deliver the phone on the promised date but will also make a profit.

In an interview to the Times of India, Goel said that he will make a “profit of Rs 31 on each handset sold.”

“Why am I being hounded? What wrong have I done? Why am I being called a ‘bhagora’ (who’ll run away with the money)? I intend to do a valid business, just like any other startup, and I have a business plan ready,” Goel told TOI.

Meanwhile, the telecom ministry has found that a device with such specifications would cost about Rs 2,300.

Apart from the jaw-dropping price, the company that was set up five months ago by Amity University graduate Mohit Kumar Goel, is also in the midst of controversy with analysts alleging that its maker has merely rebranded a device by its rival, Adcom.